Business News
Thai shares tumble more than 5 per cent on euro jitters
Oct 3, 2011, 9:57 GMT
Bangkok - The shares in the largest Thai equity index lost 5.1 per cent of their value Monday in ongoing worries over Europe's economic prospects, brokers said.
The Stock Exchange of Thailand (SET) index ended at 869.31, down 46.90 points.
Last week the SET fell about 10 per cent.
'Investors are still worried about the same things,' said Chaiyodh Jiwangkul, an analyst at Country Group Securities Pcl, a Bangkok-based broker.
'They are worried about Europe, specifically Greece,' he said. Athens on Friday announced it would be unable to meet targets to reduce its deficit this year or in 2012.
The targets had been a condition of its bailout by several international institutions.
The SET fell further than other bourses in the region because a lot of its capital was relatively recent foreign investment, attracted to the potential of the emerging market earlier this year, Chaiyodh said.
'Now investors are just selling everything,' he said.
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